PORTLAND, OREGON, UNITED STATES, September 17, 2021 /EINPresswire.com/ — The global antimicrobial additives market across Asia-Pacific is projected to exhibit the fastest CAGR throughout the forecast period.
As per the report published by Allied Market Research, the global antimicrobial additives market generated $5.1 billion in 2019, and is expected to reach $7.5 billion by 2027, growing at a CAGR of 6.8% from 2020 to 2027. The report highlights the key segments, top investment pockets, growth by segmentation, and competitive scenario.
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According to the report, the market across The Asia-Pacific antimicrobial additives market size generated the highest market revenue in 2019, garnering nearly two-fifths of the global market. The same region is also anticipated to register the fastest CAGR of 7.6% during the forecast period. This is due to vast consumer base for food & beverages and other end-users in countries such as India and China.
Eswara Prasad, Manager, Materials & Chemicals at Allied Market Research, highlighted, “Increasing utilization of antimicrobial additives in plastic and polymer products such as acrylonitrile butadiene styrene (ABS), ethylene vinyl acetate (EVA), and others has enhanced the demand of the market. The market is currently dominated owing to extensive use of silver antimicrobial additive in all types of paints such as solvent-based, water-based, liquid-based, oil or powder-based paints. In addition, antimicrobial additives play a crucial role in food industry for prohibiting microbial growth and enhance shelf life of processed food for a longer period without degradation of taste and odor.”
The global antimicrobial additives market is analyzed across product type, application, end-use, and region. Based on product type, the inorganic antimicrobial additives segment contributed to the largest market share in 2019, and is anticipated to lead the trail by 2027. The organic antimicrobial additives segment is also discussed in the report.
Based on application, the paints and coatings segment held the major share in 2019, and is expected to rule the roost by 2027. The same segment is also expected to garner the fastest CAGR from 2020 to 2027. The plastic, paints & coatings, pulp & paper, and others segment are also studied in the market report.
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Based on end-use, the healthcare segment accounted for the major share in 2019, and is anticipated to retain its dominance by the end of 2027. The same segment would also manifest the fastest CAGR during the forecast period. The other segments covered in the report include construction, automotive, healthcare, and food & beverages.
The global antimicrobial additives market report includes a comprehensive analysis of the major market players such as BioCote Limited, DOW Inc., PolyOne Corporation, Clariant AG, King Plastic Corporation, Lyondell Basell, Sanitized AG, Microban International Limited, Milliken Chemical, and BASF SE.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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Source: EIN Presswire